Bitcoin
$3,642.34 0.64%
BTC · 13w

Cryptocurrencies May Get its Chance as Bear Market Indicator Reaching New Highs for Stock Market

Cryptocurrency, Goldman Sachs, Stock Market–While investors respond to the upcoming Bitcoin Cash hard fork, the majority of the market continues to anticipate news surrounding the approval of a Bitcoin Exchange-Traded Fund by the United States Securities and Exchange Commission, a move that could signal the entrance of large capital institutional investors.

Last week, EWN covered a report by Bloomberg that the lack of interest was behind Wall Street’s slow burn effort to get involved in cryptocurrency. However, a falling and uncertain stock market could pave the way for greater crypto recognition as investors look to get out of the traditional markets and into the increasingly price stable landscape of Bitcoin.

On Monday, Goldman Sach’s bear market prediction tool was updated to “flashing red,” achieving the highest level of instability and regression to come by the stock market since the 1960’s and 1970’s. Historically, the tool has indicated a zero percent return over the next 12 months while also signaling that stocks pose a substantial risk for investors who continue to trade and stick by them.

According to CNBC,

“Goldman’s bear market indicator — which takes into account the unemployment rate, manufacturing data, core inflation, the term structure of the yield curve and stock valuation based on the Shiller PE ratio — is at a rare 73 percent, its highest level since the late 1960s and early 1970s. The caution from one of Wall Street’s banking bellwethers came as the Dow Jones Industrial Average and S&P 500 each added to steep losses over the past few weeks. The Dow finished Monday’s session down 602 points — or 2.3 percent — while the broader S&P’s slid 1.9 percent, bringing its three-month move to a loss of 3.7 percent.”

Goldman chief global equity strategist Peter Oppenheimer went on to write that the indicator was approaching a dangerous prognosis for the health of the market moving forward, a sentiment which ech...

Continue on ethereumworldnews.com
Recent news
BTC +0.64% · twitter.com · 2h

Is it me or is Bitcoin Twitter dead? I see accounts with hundreds of thousands of followers, but reading through replies, I always see the same people over and over again. Same with Reddit. It’s like there’s only a few thousand people worldwide actually passionate about Bitcoin.

Is it me or is Bitcoin Twitter dead? I see accounts with hundreds of thousands of followers, but reading through replies, I always see the same people over and over again. Same with Reddit. It’s like ...
BTC +0.64% · phys.org · 14h

Bitcoin market is as mature as traditional fiat markets

The name cryptocurrency does not inspire trust. Advanced statistical analysis for the Bitcoin market carried out at the Institute of Nuclear Physics of the Polish Academy of Sciences in Cracow, howeve...